mcx gold intraday

Gold staged a 30 dollar bounce off of yesterday’s lows to 925 earlier in the session, but drifted back to 914 in the afternoon. Despite the bounce, the overall price action is bearish while we remain below 935. Downside support is seen at 888 - the 200 day moving average and 76.4% retrenchment. Now support for the gold MCX is seen at 12484 and below could see a test of 12350. Resistance is now likely to be seen at 12738, a move above could see prices testing 12858.

Trading Ideas:

TRADING RANGE IS 12350-12858.
SELL GOLD OCT @ 12700-720 SL 12748 TGT 12670-635-611-570. MCX
BUY GOLD OCT @ 12540-560 SL 12515 TGT 12590-12615-12680. MCX
GOLD BELOW 904$ LOOKS WEAK AND BEARISH RANGE IS 900-918$

MCXARUN
9994500540

safe trade calls

GOLD

our S/L just click, but if hold book profit on sell ard 12710, for the day sell below 12470 S/L 12500 and T/p 12430-12390/ 12330/12275/close below 12280 test 12000 atleast in coming days OR sell ard 12835-40 S/L 12850 and T/p 12800-760/upto 12725, only sustain abv 12850 trigger buy call again (any time close above 12850/13465/13775 bullish while close below 12275-150/11920/11775/ 11375/11200 bearish for medium term)

SILVER

PRICE TURN EXACT FROM OUR GIVEN RESISTANCE=25000 AS YESTERDAYS HIGH=24985. book profit on buy abv 24750-775, for the day buy only abv 25000 S/L 24900 and T/p 25100-125/upto 25300 OR sell below 24300 S/L 24400 and T/p 24160-175/ 24000 (any time close below 23670/ 23075/21825 bearish rally while close above 25000/26100/27250/28000 bullish for medium term)


CRUDE

PRICE TURN EXACT FROM OUR GIVEN RESISTANCE=5440 AS YESTERDAYS HIGH=5442 for the day sell below 5230 S/L 5260 and T/p 5200-5170/towards 5100/close below 5100 test 4950 atleast in coming days OR sell ard 5390-95 S/L 5400 and T/p 5355-5325 (now crude need to close above 5450/5680/6040/6360 for bullish rally while close below 5100-5060 bearish for medium term)


COPPER


book profit on buy abv 342/344, for the day buy only abv 347 S/L 345.5 and T/p 349-51/353/towards 358 OR buy ard 336.4-336.8 S/L 336 and T/p 339-342 (upside strong rally only on close above 351/360.5/371/387.5/398 while close below 331.5-330.5/326/311 bearish for medium term)


MCXARUN
9994500540

GENERAL MARKET CONDITIONS

The volatility in commodities markets is very high. This is driving some of the day traders away from the market. I have found that some of the traders who used to trade in 1kg of gold in MCX have shifted to 100 grams of gold in MCX due to volatility. Intra day markets move in a certain trend, if one trades against the trend, the stop loss is bound to be hit. Many a times first the stop loss is hit and then the target comes. This is happening on intra day trades. The best way to beat this is (A) Determine the trend (B) Wait for the prices to near the expected buying or selling level (C) Use higher stop losses. When the average intra day volatility in MCX is over Rs.200 it is no use putting a stop loss of Rs.40 on a trade. (D) Do not wait for the target, exit even when prices near the same.

The Federal Reserve ramped up its liquidity support operations again in an effort to reduce money market strains and pre-empt the possibility of funding crises at the year-end or at other stress points. The Fed said it would offer three-month cash loans to banks and create a new options auction facility. It also said it would give investment banks and other primary dealers extended access to emergency cash and loans of Treasury securities until January 30. The options facility is similar to the strategy used by the Fed in 1999 to deal with the risk of a millennium Y2K liquidity crisis. The Fed will auction $50bn of options giving dealers the right but not the obligation to swap illiquid securities for Treasuries over periods of likely funding stress, such as the year-end. In my view the Fed thinks that printing more US dollars can solve the US pain of lower economic growth. This is very positive for gold and other safe havens in the long term. Only investors need to withstand short term volatility.

COPPER -- SEPTEMBER FUTURE -- INTRA DAY PIVOT: $354.0

Copper needs to fall below $349 for another round of selling to $332. Resistance is at $368 and $378.

MCXARUN
9994500540

safe trade calls

GOLD

THIS WAS OUR WORDS YESTERDAY "close below 12575 test 12375 atleast/towards 12250 in coming days" ACHIEVED AS DAYS LOW=12284 book profit on sell below 12670-60/12585, for the day buy ard 12332-36 S/L 12325 and T/p 12390/ 12435 OR sell ard 12700-710 S/L 12715 and T/p 12660-12620 (any time close above 13465/13775 bullish while close below 12525/12150/11920/11775/ 11375/11200 bearish for medium term)

SILVER

THIS WAS OUR WORDS ON REPORT Dt.23-7-08 "close below 24725 test 24300 & 23700 in coming days" ACHIEVED EXACT AS YESTERDAY LOW=23670. for the day buy ard 24120-130 S/L 24100 and T/p 24220-300/24375 OR buy only abv 24750-775 S/L 24675 and T/p 24900/25000/sustain close abv 24775 test 25200 in coming days (any time close below 23670/ 23075/21825 bearish rally while close above 24775/26100/27250/28000 bullish for medium term)

CRUDE

for the day buy only abv 5400 S/L 5375 and T/p 5435-40/towards 5510-40 in coming days OR buy ard 5180-82 S/L 5170 and T/p 5210-40/towards 5300, Now as long support of 5200 & 5100, more bounce back expected (now crude need to close above 5380/5680/6040/ 6360 for bullish rally while close below 5100-5060 bearish for medium term)

COPPER

book profit on buy abv 342, for the day buy abv 344 S/L 342.5 and T/p 346/349-50 OR buy ard 336.4-336.8 S/L 336 and T/p 339-342 (upside strong rally only on close above 351/360.5/371/387.5/398 while close below 331.5-330.5/326/311 bearish for medium term)

MCXARUN
9994500540

zinc intraday

Zinc yesterday we have seen that market has moved -2.31%. Market has opened at 82.45 & made a low of 79.95 versus the day high of 83. The total volume for the day was at 5929 lots and the open interest was at 5424.Now support for the zinc is seen at 79.2 and below could see a test of 78.05. Resistance is now likely to be seen at 82.25, a move above could see prices testing 84.15.

Trading Idea

TRADING RANGE IS 78.00-85.00.
A DIP TODAY TILL 76-77 LOOK TO BUY FOR TGT 79-80. LEVEL
BUY ZINC ABV 81.20 SL 80.40 TGT 82-83.40-84.60. MCX
IMP SUPPORT IS 79.40 LEVEL SPREAD IS BEST IN JULY AND AUG

MCXARUN
9994500540

nickel intraday

Yesterday the LME nickel stock was -234 against the previous of 978 Nickel has touched a low of Rs 786.4 a kg after opening at Rs .818.1, and last traded at Rs 788.9.For today market is looking for the support at 776.00, a break below could see a test of 763.00 and where as resistance is now likely to be seen at 812.00, a move above could see prices testing 836.00.

Trading Ideas

SELL NICKEL AUG @ 800-810 SL 823 TGT 780-765-740. MCX
REMEMBER AFTER EXPIRTY NICKLE TARGET IS 680 ON MCX
A GOOD RECOVERY CAN BE SEEN IN THE MARKET.

MCXARUN
9994500540

copper intraday

Yesterday the LME copper was 675mt against the previous of 2575mt. Copper has touched a low of Rs 335.4 a kg after opening at Rs 340.95, and last traded at Rs337.4.For today market is looking for the support at 334.6, a break below could see a test of 331.8 and where as resistance is now likely to be seen at 341, a move above could see prices testing 344.6.

Trading Ideas

TRADING RANGE IS 331.80-344.60.
SELL COPPER @ 339-340 SL 342.60 TGT 337.60-336.80-334.50. MCX
IMP RANGE IS 332-342 LEVEL


MCXARUN
9994500540